CLM 101

Getting Started with Contract Lifecycle Management and Contract Intelligence

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What Is Enterprise Contract Management?

Enterprise contact management is an approach to contract management that brings all of a company’s commitments into a single CLM system for seamless, holistic management. With enterprise contact management, automated systems replace the inefficient methods of manual contract management systems and streamline the process. With a computerized contract management system in place, you can organize a collection of contracts, clauses, and templates for standardization and quick retrieval.

The Importance of a Contract Lifecycle Management System

Contract lifecycle management (CLM) software automates and streamlines the management of legal agreements, offering efficiency, accuracy, and greater effectiveness at scale.

What is Contract Management Software?

Contract management software is designed to help lawyers and other professionals create, negotiate, renew, and collect data on existing business contracts.

What is Contract Management?

Contract management is the process of organizing a body of contracts, contract terms, templates, and clauses to drive standardization and efficient retrieval. However, unsophisticated approaches to contract management software are becoming a major liability to enterprises as risk management and agility become imperative.